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☆ Watch CNBC's full interview with economist David Rosenberg
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with economist David RosenbergDavid Rosenberg, Rosenberg Research founder and president, joins 'Squawk on the Street' to discuss Rosenberg's thoughts on a potential market bubble, why being rational can impede your equity performance, and how Rosenberg is considering sentiment.

Persons: David Rosenberg David Rosenberg, Rosenberg Organizations: Rosenberg Research

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

☆ Stocks will plunge back into a bear market when recession hits - even if it's a mild one, top economist David Rosenberg says
▼ + stars: | 2023-06-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

A recession will surely hit the US economy and stocks will plunge back into a bear market then, David Rosenberg said. "The compounding effect of even a mild recession on earnings and what it does to the multiple will still lead you into a fundamental bear market," he told BNN Bloomberg. Rosenberg warned that cracks were beginning to appear in the US labor market. "You're going to hear a lot of this hand-holding, 'don't worry, it's going to be a mild recession, it's going to be a shallow recession.' Ultimately you're paying for earnings, not GDP anyways, and the compounding effect of even a mild recession on earnings and what it does to the multiple will still lead you into a fundamental bear market," Rosenberg told the outlet.

Persons: David Rosenberg, BNN, Rosenberg, — Organizations: BNN Bloomberg, Service, Rosenberg Research, Federal Reserve

☆ There are parts of the market that are in a bubble, says Rosenberg Research founder
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are parts of the market that are in a bubble, says Rosenberg Research founderDavid Rosenberg, Rosenberg Research founder and president, joins 'Squawk on the Street' to discuss Rosenberg's thoughts on a potential market bubble, why being rational can impede your equity performance, and how Rosenberg is considering sentiment.

Persons: Rosenberg, David Rosenberg Organizations: Rosenberg Research

☆ Is the AI stock boom a dot-com-style bubble? David Rosenberg, Jeremy Siegel, and 5 other experts weigh in.
▼ + stars: | 2023-06-18 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +5 min

Experts including David Rosenberg and analysts from Wall Street banks including Bank of America have compared the AI stock boom to the dot-com bubble that burst in 2000. Here's a selection of the most recent expert views on this year's AI stock boom. But not everyone thinks the AI stock boom has run too far. Michael Hartnett, Bank of AmericaMichael Hartnett, BofA Global Research's CIO, said AI is in a "baby bubble" for now and noted that "AI = internet." Jeremy Siegel, Wharton finance professorThe retired Wharton finance professor doesn't see the AI hype as a bubble, either.

Persons: David Rosenberg, Wharton's Jeremy Siegel, Dan Ives, —, Wharton, Jeremy Siegel, Dan Raju, Michael Hartnett, Bank of America Michael Hartnett, BofA, James Penny, TAM Asset Management James Penny, I'd, Art Cashin, Cashin, Rosenberg, doesn't Organizations: Bank of America, Wedbush Securities, Service, Wall, UBS, TAM Asset Management, Nvidia, Microsoft, BofA Global, firm's, Bloomberg, Art, CNBC Locations: Wall

☆ The Fed just held interest rates and signaled future hikes at the same time – a move that baffled many. Here's how Larry Summers, Mohamed El-Erian, and others have reacted.
▼ + stars: | 2023-06-17 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

The Fed pressed pause on its interest-rate increases this month after boosting borrowing costs 10 times since early 2022. The move spurred a wave of commentary given the central bank at once held rates and signaled more hikes. "It seems like the unanimity of opinion that we need more rate hikes has been clear, but the path of rate hikes is all over the place," he added. "It was what I would call, an awkward but hawkish pause," he added. Peter Schiff, chief global strategist at Euro Pacific Capital"Don't believe the hype on the Fed's hawkish pause on rates.

Persons: Larry Summers, Mohamed El, David Rosenberg, Jeff Gundlach, —, Jerome Powell, Summers, Erian, Tom, Dick, Harry, " Rosenberg, Gundlach, Steve Forbes, Forbes, Don't, Richard Clarida, they've, they're, Clarida, Whitney Watson, Watson, Peter Schiff, Schiff Organizations: Fed, Service, Federal Reserve, Bloomberg, Erian, Allianz, CNBC, Federal, Global, Goldman Sachs, Euro

☆ Morgan Stanley's chief US economist now says home prices are likely to drop only 2% in 2023. Here's why she thinks the housing downturn is virtually over.
▼ + stars: | 2023-06-17 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Morgan Stanley's Ellen Zentner says housing activity has bottomed. After a huge drop off in activity, demand is starting to stabilize. Yardeni ResearchThe pickup in activity has likely been due to housing affordability stabilizing. Zentner's view that the housing market is stabilizing is a big contributing factor to her call for a soft-landing scenario, where the US economy avoids a recession. But nevertheless, housing activity has bottomed, and that's probably the most important pillar to a soft-landing."

Persons: Morgan, Ellen Zentner, Morgan Stanley's Ellen Zentner, Zentner, that's, Goldman Sachs, Jonathan Woloshin, Suisse's Ray Farris, Ian Shepherdson, undershoots, David Rosenberg Organizations: National Association of, National Association of Homebuilders, UBS Wealth Management, Rosenberg Locations: Zentner

☆ The S&P 500 has entered a bull market, but will it last? Here's what 5 Wall Street experts are saying about the stock market's big rally.
▼ + stars: | 2023-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

The S&P 500 has pushed its way into a new bull market, but experts are torn over whether the rally can last. Though he previously predicted a 15% increase for the S&P 500, he's turned more bearish on the market as recession odds increase. Goldman SachsThe hype for AI is real and could lead the S&P 500 to climb higher this year, Goldman Sachs said. That could take the S&P 500 as much as 14% higher in the coming years, strategists said. The S&P 500 could end the year at 4,500, strategists predicted, implying around a 5% upside from current levels and a gain of about 17% for the full year.

Persons: —, David Rosenberg, Rosenberg, That's, Steve Marcus, Jeremy Siegel, Siegel, he's, Bloomberg Mike Wilson, Morgan Stanley, Morgan, Mike Wilson, Wilson, Cindy Ord, Tom Lee, Fundstrat, Goldman Sachs Organizations: Service, New York Fed, Rosenberg Research, Wharton School, Bloomberg, Corporations, Getty, CNBC

☆ Mohamed El-Erian says Fed communication is seen as 'confused and confusing' after it held rates and signaled hikes at the same time
▼ + stars: | 2023-06-16 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Mohamed El-Erian said the Federal Reserve's latest policy communication was seen as "confused and confusing." The Fed left interest rates unchanged at its Wednesday meeting, but signaled future increases. In a tweet on Thursday, the top economist said the central bank's policy communication this week was seen as "confused and confusing," and shared tweets echoing a similar sentiment from journalists and experts including economist David Rosenberg. "A sample from quite a set of reactions to what is seen as confused and confusing Fed communication," El-Erian said in the tweet, accompanied by three critical observations the Fed from market commentators including Rosenberg. The Fed has been on an aggressive path to cool inflation over the past year, hiking interest rates by 500 basis points to a range between 5%-5.25%.

Persons: Mohamed El, Erian, —, David Rosenberg, Jerome Powell, Rosenberg, Powell, Summers Organizations: Federal, Service, Rosenberg Research, Bloomberg

CNN —Robert Bowers, the gunman who killed 11 worshippers at Pittsburgh’s Tree of Life synagogue in 2018, was convicted by a federal jury Friday on all 63 charges against him. Bowers was also convicted of 11 counts of hate crimes resulting in death. The shooting unfolded on a day when the synagogue was hosting three congregations, Tree of Life, Dor Hadash and New Light, for weekly Shabbat services. In addition to the 11 killed, two worshippers and four responding police officers were wounded. Before the shooting, Bowers spent years posting about attacks on immigrants and Jewish people on Gab, a small social media platform used by far-right extremists.

Persons: Robert Bowers, Bowers, David Klug Diane Rosenthal, Cecil, David Rosenthal, ‘, ’, Rabbi Jeffrey Myers, ” Myers, ” “, ”, Jonathan Greenblatt, that’s, ” Greenblatt, Dan Frankel, “, Frankel, ” Bowers, Robert Bowers David Klug, Robert Colville, Elisa Long, ” Long, Eric Olshan, ” Olshan, Dor Hadash, Andrea Wedner, Rose Mallinger, ’ ”, Mary Hahn, – Organizations: CNN, U.S, Attorney, Defamation League, Pennsylvania, Hebrew Immigrant Aid Society, Police, Immigrant Aid Society Locations: Maryland, New York

☆ It's Wall Street vs Wall Street as the recession debate rages on. Here's what David Rosenberg, Jeff Gundlach and 5 other experts have warned.
▼ + stars: | 2023-06-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Wall Street experts are butting heads over the health of the economy, and what's to come. David Rosenberg, Rosenberg Research president"Markets pricing in a 'soft landing'? Will they ever be in for a big surprise," the Rosenberg Research chief tweeted. "You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said. "We're referring to this phenomenon as a Cardboard Box Recession, because items that are made (manufacturing) and shipped (trade) tend to go in a box.

Persons: David Rosenberg, Jeff Gundlach, Clif Asness, —, Rosenberg, Will, hasn't, we're, Gundlach, Jeffrey Kleintop, Charles Schwab, Kleintop, Goldman Sachs, That's, Jan Hatzius, Hatzius, Jim Reid, David Folkerts, Landau, Reid, Folkerts, Nicholas Colas Organizations: Service, Federal Reserve, Rosenberg Research, DoubleLine Capital, CNBC, Fibre, Association, Deutsche Bank, Deutsche Locations: United States

☆ 'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
▼ + stars: | 2023-06-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Historically, a median pullback in earnings would mean a 15-20% drop in the S&P 500. The Bureau of Labor Statistics announced on June 2 that the US labor market added 339,000 jobs in May — more than economists had expected. Historically, the Fed tightening cycle takes 18 – 24 months to impact the labor market." Madison Hoff/InsiderHistory shows a recession would mean a rough ride ahead for the stock market, Goodwin said. The median S&P 500 price target among major Wall Street strategists is 4,000, which is 7% lower than current levels.

Persons: Lauren Goodwin, Goodwin, Madison Hoff, Michael Kantrowitz, Piper Sandler, Piper Sandler Piper Sandler, it's, Kantrowitz, Morgan Stanley's Mike Wilson, David Rosenberg, —, Louis Organizations: York Life Investments, Labor Statistics, New York Life Investments, Rosenberg Research, Federal Reserve Bank of St

☆ Billionaire bond investor Jeffrey Gundlach dials up his warning of a US recession, pointing to signs of falling demand
▼ + stars: | 2023-06-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

"Bond King" Jeffrey Gundlach warned that a US recession is imminent, pointing to signs of weakening demand. "It's pretty clear that we have the look of soon to be at the front end of a recession," the billionaire investor said. Gundlach has consistently rang the alarm on an oncoming downturn as the economy faces a raft of headwinds. "It's pretty clear that we have the look of soon to be at the front end of a recession," Gundlach said. This is not the first time Gundlach, often called "Bond King" for his success in fixed-income investing, has warned of a oncoming US recession.

Persons: Jeffrey Gundlach, Gundlach, —, David Rosenberg, that's Organizations: Service, Privacy, DoubleLine, CNBC, Deutsche Bank, Institute of Supply Management, Federal Reserve

☆ Stocks are up big this year. But top Wall Street strategists are warning that trouble is brewing under the surface of the market — threatening to sink it.
▼ + stars: | 2023-06-06 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Six months into 2023, the S&P 500 is having an impressive year, returning more than 11% so far since January. Only 44% of S&P 500 stocks are trading above their 200-day moving averages, according to LPL Financial. Technology and consumer are the only sectors up on the year, and even they are exhibiting narrow breadth," he said. Bank of AmericaOf course, market breadth could improve if the fundamental economic outlook improves along with investor sentiment. If the labor market stays sturdy, a stock market rally could become more sustainable.

Persons: David Rosenberg, Mike Wilson, Here's David Rosenberg, Bank of America Merrill Lynch, Marcelli, Morgan Stanley, Adam Turnquist, Jeffrey Buchbinder, LPL, Savita Subramanian Organizations: Apple, Microsoft, Nvidia, Meta, Bank of America, Rosenberg Research, North, UBS, NYSE, Technology, of America's Locations: North American, China

☆ Home buyers are facing the least affordable market on record
▼ + stars: | 2023-06-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Joe Raedle / Getty ImagesEdward Seiler is the associate vice president for housing economics at the Mortgage Bankers Association. Phil Rosen: The MBA's Purchase Applications Payment Index just hit a new high in April. For new home buyers, this is the worst situation since the end of the Great Recession. Current homeowners that were lucky enough to get a 2.75% interest rate in 2022 are in a great position, but for new buyers looking to buy a first home, or those looking to move to another home, it's a very daunting proposition. In his view, monthly payments for first-time buyers are up roughly one-third compared to last year — and that's going to keep buyers on the sidelines and weigh on demand.

Persons: I'm Phil Rosen —, Joe Raedle, Edward Seiler, Phil Rosen, Jen, Hsun Huang, Huang, Kim Kulish, Gregg Fisher, he's, Jensen Huang, It's, There's, Evercore's Mark Mahaney, Meta, shouldn't, David Rosenberg, who's, Larry Pitkowsky, Max Adams Organizations: Mortgage, Association, Twitter, Nvidia Corp, GPU Technology, Nvidia, Treasury Department, Fed, Tech Locations: San Jose , California, New York

☆ Top economist David Rosenberg says the US economy is a 'dead man walking' – and warns of a 'hard landing' ahead
▼ + stars: | 2023-06-02 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

This economy is a dead man walking," the top economist tweeted. The Rosenberg Research chief said the US was headed for a "hard landing" later this year. This economy is a dead man walking," the Rosenberg Research chief said in a tweet on Thursday that also linked to an interview he gave to Wealthion. "You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said. That strengthened the case for a global recession, Rosenberg added.

Persons: David Rosenberg, Rosenberg, —, we're Organizations: Rosenberg Research, Service, CNBC, Federal Reserve Locations: United States

☆ US home prices just jumped for the second-straight month, suggesting the housing downturn could be over. Here are the 6 cities where prices are rising the fastest.
▼ + stars: | 2023-05-31 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

In the 20-city version of the index, all 20 of the cities saw home prices rise month-over-month. "That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months." "A shortage of listings, plentiful jobs, and strong wage growth are largely offsetting the headwind to housing from high mortgage rates," Adams told Insider. Their reasons include high mortgage rates, historically low affordability, and a potential recession. Below, we've listed in descending order the six cities in the Case-Shiller 20-city index that posted month-over-month growth of at least 2%.

Persons: Craig J, Lazzara, Bill Adams, Adams, Suisse's Ray Farris, Rosenberg Research's David Rosenberg, Ian Shepherdson, American Enterprise Institute's Desmond Lachman, Skylar Olsen Organizations: Home, NSA, Redfin, Comerica Bank, American Enterprise Locations: Denver, Detroit, San Francisco, San Diego, Seattle, Minneapolis, West Coast, Miami , Florida, Tampa , Florida, Charlotte, North Carolina

☆ Nvidia is the clear winner in the AI race. Its stock isn't the only reason why.
▼ + stars: | 2023-05-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Last week I asked you all a question in the newsletter — Do you own Nvidia stock? One of you even told me you first bought the stock when Nvidia was $16(!) Nvidia is the clear winner in the AI arms race so far. A secretive hedge fund has likely notched a $5 billion gain on Nvidia stock this year. Shares of the company hovered near their biggest single-day spike ever, and the chipmaker credited AI for its upbeat quarterly outlook.

☆ 'It's not a bubble yet': Wharton's Jeremy Siegel predicts Big Tech boom fueled by A.I.
▼ + stars: | 2023-05-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Wharton professor and renowned economist Jeremy Siegel is bullish on a Big Tech boom fueled by artificial intelligence despite concerns of a bubble. He noted that he has been getting questions around whether it would lead to a repeat of the dot-com bubble in the late 1990s. Economist David Rosenberg, known for his contrarian views, had predicted that the current AI boom could collapse like late 1990s dot-com stocks. The dotcom bubble burst when capital dried up after a massive adoption of the internet and a proliferation of available venture capital into internet-based companies, especially startups that had no track record of success. "First, there was excitement about AI and Nvidia ratified that excitement with blowout earnings.

☆ A debt-ceiling deal may be close but the crisis likely isn't solved for good. Here's what would happen if the US actually defaulted on its debt.
▼ + stars: | 2023-05-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

So the Treasury market remains intact in this scenario? JL: The broader US economy will suffer, the stock market will suffer, there will be higher unemployment. So just because the Treasury market ends up doing fine does not mean good news for the US economy. If you think the stock market isn't signaling there's a recession looming, David Rosenberg says otherwise. The AI hype gripping the stock market will resemble a mini dot-com bubble, according to UBS's Art Cashin.

☆ Famed economist David Rosenberg says home prices are set to fall further as buyers retreat to the sidelines and a hawkish Fed means stubbornly high mortgage rates
▼ + stars: | 2023-05-26 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

With mortgage rates unlikely to budge and incomes unlikely to grow, prices are due to drop. Housing affordability is calculated by accounting for three variables: home prices, mortgage rates, and incomes. Ian Shepherdson, the chief economist at Pantheon Macroeconomics who said in the 2005 that a housing downturn would spark a recession, made the same argument in recent weeks. Now that's quite striking because mortgage rates are no longer at peak, but applications are still falling. This would send interest rates — and therefore mortgage rates, which trade closely with Treasury rates — higher, further hurting demand and affordability, Moody's Chief Economist Mark Zandi recently told Fortune.

☆ 'Price bubble' in A.I. stocks will wreck rally, economist David Rosenberg predicts
▼ + stars: | 2023-05-25 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Economist David Rosenberg, a bear known for his contrarian views, believes enthusiasm surrounding AI has become a major distraction from recession risks. "No question that we have a price bubble," the Rosenberg Research president told CNBC's "Fast Money" on Thursday. "[This] looks very weird," said Rosenberg, who served as Merrill Lynch's chief North American economist from 2002 to 2009. Just seven mega-caps have accounted for 90% of this year's price performance," Rosenberg wrote. While mega cap tech outperforms, Rosenberg sees ominous trading activity in banks , consumer discretionary stocks and transports .

Persons: David Rosenberg, CNBC's, Rosenberg, Merrill Lynch's, Jensen Huang Organizations: Rosenberg Research, Nasdaq, Nvidia, Microsoft

☆ Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.
▼ + stars: | 2023-05-14 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

Fears of a US debt default are mounting as a deadline to raise the government's borrowing limit draws near. Investors anxiety over the risk of a US debt default is mounting rapidly as a months-long political deadlock over the government's borrowing limit continues. Here's what six prominent figures have said about the ongoing political standoff over the debt ceiling. "You might ask how we're supposed to enforce a debt ceiling if the government can play games with the definition of debt. He said he doesn't expect the US to experience a debt default, but the deadline to reach a deal is soon approaching.

☆ Are we in a recession? Elon Musk says the pile of failed banks proves it.
▼ + stars: | 2023-05-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

As for today, let's see what Elon Musk and Larry Summers have to say about the state of the economy. In any case, ex-Treasury Secretary Larry Summers said recession odds for the next year are now sitting at 70%. These six factors suggest the stock market bottomed last October. Morgan Stanley's top equity strategist Mike Wilson thinks investors are banking too hard on a potential Fed rate cut this year. That discrepancy could set the stock market up for a sell-off, in his view.

☆ Fact Check-Aerofarms leafy greens do not contain a COVID vaccine
▼ + stars: | 2023-04-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Vertical farms operator Aerofarms grew protein-producing plants for research on COVID-19 therapies in 2021 in a research facility separate from its retail vegetables. Posts online, however, have misrepresented the company’s work to falsely claim its commercial leafy greens sold at Whole Foods and other businesses contain a COVID-19 vaccine. In the clip, Rosenberg referred to research involving Aerofarms plants creating ACE-2 proteins, Oshima said. Commercial greens produced by Aerofarms do not contain COVID-19 vaccines, a spokesperson for the company told Reuters. A clip circulating misrepresents separate research related to an experimental COVID-19 therapeutic, not an edible vaccine.

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